Billionaire Richard Branson’s Virgin Orbit will resume operations after halting work last week and closing in on deal with Texas-based investor for $200 million.
John Lonski, president of Thru the Cycle, told FOX Business "Virgin Orbit’s rally is still low versus the $8.04 earnings per share the company reached at the end of 2021.""While Virgin Orbit was able to recall employees, the company remains a highly speculative play," he added. "Only buy as much as you can afford to lose, but there may be better long shots out there, as questions about the company’s technology persists.
In this undated photo provided by Virgin Orbit on Jan. 9, 2023, Virgin Atlantic Cosmic Girl, a repurposed Virgin Atlantic Boeing 747 aircraft that will carry a rocket, is parked at Spaceport Cornwall, at Cornwall Airport in Newquay, England. Engineer The decision to resume operations comes as reports the cash-starved Virgin Orbit is nearing a deal for a $200-million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters.
Virgin Orbit, one of several companies competing to commercialize the space industry, uses a modified Boeing 747 dubbed "Cosmic Girl" to launch rockets mid-air and carry its payload to orbit.
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